Guideline Value for Thiruvalluvar Nagar

Thiruvalluvar Nagar guideline value

The current guideline value of Thiruvalluvar Nagar, located in Old Gummidipoondi village under the Gummidipoondi SRO, is Rs 660 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Thiruvalluvar Nagar has changed

The guideline value for Thiruvalluvar Nagar has experienced several revisions over the years. In the 2002 revision, the value was Rs 75 per sq.ft, which increased to Rs 90 per sq.ft in 2003. Following this, the 2007 revision saw a significant jump to Rs 150 per sq.ft, and by 2012, the value was Rs 600 per sq.ft. The 2017 revision recorded a further increase to Rs 402 per sq.ft, but this was followed by a rise to Rs 600 per sq.ft in 2023. The latest revision in 2024 has set the guideline value at Rs 660 per sq.ft.

In terms of percentage changes, the value rose by 20% from 2002 to 2003, and then increased by 67% from 2003 to 2007. The 2007 to 2012 period saw a remarkable increase of 300%, but this was followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023. The change from 2023 to 2024 represents a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 780%.

Guideline values in Old Gummidipoondi

In Old Gummidipoondi, there are 90 streets under the Gummidipoondi SRO with a 2024 guideline value ranging from Rs 220 to Rs 1,210 per sq.ft. The median value is Rs 660 per sq.ft, making the guideline value for Thiruvalluvar Nagar equal to this median. Below are some of the other streets in Old Gummidipoondi:

• Tirukulam Street Ward No.8 Door No.1-26b: Rs 330 per sq.ft (2024)
• Tapal Street Ward No.4 Dor No.121-156: Rs 660 per sq.ft (2024)
• Tapal Street Ward No.3 Door No.1-20: Rs 660 per sq.ft (2024)
• Vadugha Colony Ward No.5 Door No.1-8: Rs 220 per sq.ft (2024)
• Valliammai Nagar Ward No.8 Door No.1-3 Door 1-26b: Rs 330 per sq.ft (2024)
• vasantha Bazaar or Raliway station ward No 10 Door No 1-67B: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruvalluvar Nagar?

The Sub Registrar Office that covers Thiruvalluvar Nagar is the Gummidipoondi Sub Registrar Office, located at No.9, Grc Complex, G.n.t.road, Gummidipoondi-601201, Chennai registration zone. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Old Gummidipoondi

The guideline value plays a crucial role in the registration process when buying or selling property in Old Gummidipoondi. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers and sellers should be aware that the guideline value can influence the overall cost of the property transaction.

When registering a property, the guideline value is assessed to ensure that the transaction is in line with the prevailing market conditions. This helps maintain transparency and fairness in property dealings, ensuring that all parties are aware of the applicable costs associated with the transaction.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Nagar?

The current guideline value of Thiruvalluvar Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 75 per sq.ft in 2002 to Rs 660 per sq.ft in 2024, reflecting an overall increase of 780% over the years.

What is the land classification of Thiruvalluvar Nagar?

Thiruvalluvar Nagar is classified as Residential Class II Type - I.

Where can I find the Gummidipoondi Sub Registrar Office?

The Gummidipoondi Sub Registrar Office is located at No.9, Grc Complex, G.n.t.road, Gummidipoondi-601201, Chennai registration zone.

How is the stamp duty calculated for properties in Thiruvalluvar Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 6,60,000 would incur a stamp duty of Rs 46,200 at 7%.